Dan Clayton Griggs, Jr. Sells 6,769 Shares of Lowe’s Companies, Inc. (NYSE:LOW) Stock

Lowe’s Companies, Inc. (NYSE:LOW) CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $256.76 on Wednesday. The firm has a market cap of $146.31 billion, a P/E ratio of 20.62, a PEG ratio of 2.03 and a beta of 1.10. The business’s 50 day simple moving average is $241.71 and its two-hundred day simple moving average is $234.94. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LOW. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $252.83.

Hedge Funds Weigh In On Lowe’s Companies

Several institutional investors have recently modified their holdings of LOW. Drive Wealth Management LLC increased its holdings in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Crown Wealth Group LLC increased its stake in shares of Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares during the period. Pure Financial Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares during the last quarter. BLB&B Advisors LLC lifted its position in Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in Lowe’s Companies by 3.5% in the second quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock valued at $292,000 after purchasing an additional 45 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.